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Oil companies investing into fossil-fuelled plastics production at a record rate

• pkdpic 5y ago
  > Why? Because the raw materials behind plastics and other petrochemicals are fossil fuels. As traditional demands for oil – vehicle fuels – are declining as the transport sector is increasingly electrified, the oil industry is seeing plastics as a key output that can make up for losses in other markets. Investing in plastics has therefore become a key strategy for fossil fuel firms. Reminds me of Ministry for the Future when Saudi Arabia pledges to only sell its oil to companies producing carbon-sequestering plastics rather than fuel. Plastics are obviously still super problematic for a million reasons though. Especially since it seems like a lot of it ends up getting burned anyway...